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Bajaj Finance posts Rs 2,420 crore consolidated web revenue in March quarter

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Buoyed by wholesome shopper sentiments, Bajaj Finance on Tuesday reported its highest ever consolidated web revenue at Rs 2,420 crore within the three months ended March.

The determine is 80 per cent increased in comparison with Rs 1,347 crore posted within the year-ago interval.

The Non-Banking Finance Firm (NBFC) additionally posted its highest ever consolidated revenue after tax at Rs 7,028 crore within the fiscal ended March 2022, up 59 per cent, it mentioned in a launch.

In 2020-21, the online revenue was at Rs 4,420 crore.

The online curiosity revenue within the newest March quarter rose 30 per cent to Rs 6,068 crore. For the total 12 months, it was up 27 per cent at Rs 21,892 crore.

“Mortgage losses and provisions for Q4FY22 was Rs 702 crore as in opposition to Rs 1,231 crore. The corporate holds a administration and macro-economic overlay of Rs 1,060 crore as of March 31, 2022,” the discharge mentioned.

Mortgage losses and provisions for the 12 months was at Rs 4,803 crore as in opposition to Rs 5,969 crore within the year-ago interval.

In an investor presentation, the corporate mentioned it was a wonderful quarter throughout stability sheet progress, portfolio high quality and profitability.

“Omnipresence agenda continued to speed up in This fall. General, enthusiastic about FY23 prospects,” it added.

The corporate’s consolidated Belongings Beneath Administration (AUM) stood at Rs 1,97,452 crore as of March 31, 2022.
In This fall, AUM progress was secular throughout all strains of companies.

On the asset high quality entrance, the gross and web non-performing belongings on the finish of March 2022 stood at 1.60 per cent and 0.68 per cent respectively, down from 1.79 per cent and 0.75 per cent as on March 2021.

Bajaj Finance mentioned its board of administrators has really helpful a dividend of Rs 20 per fairness share for FY22.

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